On-chain analyst Yu Jin has revealed a significant cryptocurrency movement by Brevan Howard Digital.
Over the past half-month, the investment firm has executed a transfer of 2 million Lido (LDO) tokens, equivalent to approximately $3.07 million. This action has piqued the interest of crypto enthusiasts and market watchers alike.
The data, shared by Yu Jin, showcases a consistent trend in Brevan Howard Digital’s LDO transfers since March 2. The firm has transferred a substantial 9.04 million LDO tokens, valuing around $21.66 million, to Centralized Exchanges (CEX) during this period, with an average price of $2.4 per token. These transfers have been distributed among prominent exchanges as follows:
- 4.5 million LDO tokens were sent to Binance.
- 2.54 million LDO tokens found their way to Coinbase Prime.
- 2 million LDO tokens were transferred to OKX.
At the time of this report, Brevan Howard Digital maintains ownership of 5.83 million LDOs, equivalent to approximately $9.16 million. This indicates that the recent transfer represents a substantial portion of their LDO holdings.
These strategic movements by Brevan Howard Digital have prompted speculation within the cryptocurrency community regarding their investment strategy and potential market insights. The cryptocurrency landscape is known for its dynamic nature, and actions of major entities like Brevan Howard Digital can influence market sentiment and token prices.
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